XRP Whales Pull 301M Tokens Off Exchanges as Ledger Upgrade Heads to a Validator Vote
Published on 10/02/2026 at 18:50 | Editorial boerse-global.de
A wave of large-scale withdrawals has tightened the near-term supply of XRP on centralized venues, with blockchain analytics firm CryptoQuant recording 301 million tokens pulled from trading platforms in a series of single transfers each exceeding one million units.
Binance accounted for the bulk of the outflow at roughly 151 million XRP, trailed by Bybit with 68 million, Bitget with 50 million and Coinbase with 32 million. The drain left Binance's XRP reserves lower by about 57 million units, settling at 2.647 billion tokens. Moves of this kind to external wallets typically trim the amount of the asset immediately available for sale on order books.
Price action reflected the reduced selling pressure. XRP changed hands at $1.53, up 2.4% on the day, holding a comfortable cushion above its 50-day moving average of $1.38.
Institutional Footprint Widens
Beyond the exchange flows, XRP is embedding itself more deeply in conventional market plumbing. CME's XRP futures and options contracts notched a notional volume of roughly $13 billion in the first quarter of 2026, with cumulative volume later climbing past $62 billion.
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On-chain activity tells a similar story. Tokenized real-world assets on the XRP Ledger now total about $1.38 billion, while payments network t54 Labs reported yesterday that it has processed more than ten million x402 transactions. Brazil's central securities depository, CSD BR, has also brought the XRP Ledger in as an additional verification and record-keeping layer.
Protocol Change Awaits Node Operators
Attention is simultaneously fixed on the underlying blockchain, where a batch-related modification is slated for activation on the mainnet, with October 9 penciled in as the go-live date. Whether the change takes effect as scheduled rests on the voting behavior of validators, the node operators who secure consensus across the protocol. Without their backing, the upgrade will not be switched on.
Corporate developments tied to the ecosystem are moving in parallel. Evernorth, a Ripple-backed entity holding a treasury of about 473 million XRP, plans to begin trading on the Nasdaq under the ticker XRPN on October 8, contingent on the formal completion of a merger expected October 7.
Ripple's own calendar is equally busy. The company is slated to appear at the XRP Seoul conference, where representatives from banks, other financial institutions and Ripple teams will gather to discuss practical applications of the XRP Ledger in payments and broader financial services.
Routine treasury management continues as usual. On Friday, Ripple moved one billion XRP out of escrow across four transactions as part of its monthly schedule — a process that typically sees a substantial portion of the released tokens returned to escrow, meaning the full amount does not reach the open market.
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